Re: BK7 and stocks
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Posted by LadynRed
(199.91.33.254) on April 15, 2003 at 10:13:52:
In Reply to: Re: BK7 and stocks posted by eric on April 15, 2003 at 08:57:19:
If the full contract amount is what they say you owe, then you need to add the full amount. As for your other questions - exemptions for cash in bank accounts depends on your state. Some allow more than others. The amount of cash you have in accounts on the day you file is what the Trustee will look at. The Trustees know that at some point in time, with direct deposits and bills to be paid that the money in an account is ALL for normal expenses. As for your stocks, I suggest you liquidate them and spend it on necessities or exempt assets. The Trustee will want to know if you've paid any ONE creditor $600 or more in the prior 3 months. Any lump sum payments you make to creditors in that time frame can be viewed as preferential and the Trustee could take that money back from them.
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